TITLE 27

Insurance

CHAPTER 27-19

Nonprofit Hospital Service Corporations

SECTION 27-19-5.3



   § 27-19-5.3  Additional powers. –

Notwithstanding any other law or section of this chapter which may be

inconsistent with this section, each nonprofit hospital service corporation

may, through a subsidiary, develop, underwrite and/or offer for sale life

insurance, disability insurance, long-term care insurance, employee assistance

programs and/or other health related programs; provided, however, prior to

underwriting risk under policies of insurance listed above, the nonprofit

hospital service corporation must first demonstrate that underwriting such risk

is consistent with the statutory mission of the nonprofit hospital service

corporation and obtain prior written approval from the health insurance

commissioner. Each nonprofit hospital service corporation may also directly, or

by contracting with another entity, develop and/or offer for sale the policies

or programs described in this section. However, the nonprofit hospital service

corporation shall not directly underwrite any risk under a policy of insurance

described in this section.



History of Section.

(P.L. 2006, ch. 182, § 2; P.L. 2006, ch. 600, § 2.)